We are on a roll! After recording a 29.5% increase in March sales (there were a few late postings that increased the total), local residential real estate sales for April were up 18.8% putting the year to date increase at 16.2%. The average selling price in April was up 7.6% to $258,134 and for the year is at $253,433, an increase of 5.6%. Heading into the busy four month period of May through August when almost half of the years sales occur, we have a good jump on it and a lot of momentum with 552 homes under contract at the end of April.

Sales of homes priced above $500,000 continued to improve with seventeen closed in April bringing the year to date to 52 compared to just 27 last year.

The only red flag is the shortage of inventory. At the end of April there were 1,483 active listings but with 552 of them under contract there is a net of 931 homes available compared to 914 at the end of March. We expect a demand for up to 350 homes per month for the next four months so there is just a 2.6 month supply but 60% of this demand will be for homes priced under $250,000 and with 412 active listings in this price range there is less than a two month supply. To compare, sales of homes priced above $500,000 have been very good lately but there is still a one year supply on the market.

For the rest of the region, sales in theLovelandarea are up 9% for the month and 15.8% for the year to date. The average selling price for April is up 1% and is at $261,550 for the year, an increase of 1.8%. InWeldCounty, April sales were down 3.9% but the average selling price increased 10.7%. For the year, sales are up 1.3% and the average selling price has increased 7.9% to $195,731. There are 274 homes under contract in theLovelandarea and another 546 inWeldCountyso there is a lot of momentum in these markets also but they are short of inventory also.

Overall, a very good report and there seems to be a lot of energy in the market so we expect further increases in sales and pricing over the next few months.

Local real estate sales in the first quarter were better than expected due entirely to a ‘marvelous’ March. One month is certainly not a true indicator of the way the year will go but for residential real estate sales, March was the most fun in a long time. Closed sales totaled 275 homes, an increase of 26.7% from a year ago and almost double the sales of the previous month. The average selling price of $266,392 was up 15.3%, the median price of $223,100 was up 11.6% and the total volume of home sales for the month was $73,258,000 which was a spectacular unheard of 46.3% increase over last year and the best March since sales of $78M seven long years ago in 2005. The graph shows the total volume (in $millions) of March sales over the last ten years.

The main reason for the big numbers in March is that sales of ‘fine homes’ improved dramatically. Fine homes or luxury homes are typically those priced in the top 5% to 10% of the market. In this area homes priced above $400,000 are in the top 10% and homes priced above $500,000 are in the top 5%. In March there were 23 closed sales of homes priced above $500,000 compared to just 6 last year. This was 8.4% of the total home sales compared to the normal 5% and just 2.8% last year and the volume of these sales was over $15 million compared to just $5 million in March 2011. In addition, at the end of March there were another thirty one homes under contract so the activity in this price range is really looking up which is good news for home sellers because this segment of the market has been dragging with a two to three year supply.

For the first quarter of the year, after a small 5.6% increase in sales for the first two months, we are now at a 13.7% increase and the average selling price is up 4.7%.

The current inventory of homes for sale totals 1,353. This compares to 1,543 last year and 2,024 at the end of March 2010. Of the 1,343 listings, 439 were under contract so there are only 914 active listings available for sale. Over 60% of the year’s annual sales occur in the next six months so we are expecting a demand for around 1,800 homes. At 300 homes per month, the current supply is about 4.5 months and just 3 months of net inventory which means we have a serious inventory problem.

The first quarter closed sales averaged 131 days on market compared to 135 last year and this would have been better if the days under contract had improved. Unfortunately the under contract time is still lengthening with conventional fixed rate loans taking an average of 40 days to close compared to 30 days a few years ago.

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Other areas of northern Colorado did not fare as well. Area 8 which is Loveland and south Larimer County had a 24.6% increase in homes sold but the average price dropped 2.8% and the total volume was up 21%, a good figure but far short of the Fort Collins area. In Weld County the number of homes sold actually dropped 7.4% but the average selling price increased 9.9% and total volume was up just 1.7%

One comment about the average selling price is that this is the complete mix of residential housing including new and resale and both single family detached homes and attached townhomes and condos. The mix of these homes is why the average price for the Loveland area is higher than the Fort Collins area. Actually the average selling price for a single family detached home is about the same in both areas but Fort Collins has more attached homes, accounting for 20% of sales compared to around 10% in Area 8 and Area 10. Since attached homes are generally a lower selling price, the average price for the mix of all homes in Fort Collins is lower.

The inventory in the other two areas is also a concern. There are 937 active listings in Area 8 and a net of 660 listings. With a demand over the next six months of about 1,000 homes there is a supply of 5.6 months and 4.0 months on a net basis. In Area 10, there are 1,454 active listings and a net of 978. With a demand for about 2,000 homes there is a 4.4 month supply and less than a three month supply of net listings.

In this area we report on closed home sales whereas in the Denver Metro region, they report on the number of homes placed under contract and March showed a whopping 49% increase compared to March 2011 with an average price up 4% to $259,422. On a national basis, the National Association of Realtors reported sales of existing homes rose 4.0% in March with an average price increase of 2% compared to the previous year. New home sales dropped 7.1% and the median price was $234,600, an increase of 6.3%.

As for the immediate future, we stated back in early January that “we expect real estate sales in 2012 will continue to be a challenge but there are a lot of signs that the local market has in fact survived the ‘recession’ and is on its way back. Demand looks to be growing as consumer confidence and spending are on the rise, employment opportunities seem to be increasing and it is expected that mortgage interest rates will remain low. As long as sellers remain conservative in their pricing and the inventory increases to meet the demand, we believe 2012 will show a further recovery in the number of homes sold with another modest price increase. To put numbers to it, let’s say a 4% increase in homes to around 3,000 and a minimum 2% increase in the average selling price to $255,000 for a total volume of $780M which would be an 8% overall increase.”

The recent economic news, both locally and nationally, is encouraging and with improving consumer confidence and continuing record low mortgage interest rates, there are a lot of reasons to expect the local real estate market will continue to improve. With a big 13.7% increase in the first quarter sales, an average selling price up 4.7% and total volume up 19.1% to $141.6M we have a good start to the year but the low inventory remains a concern. We have to find more homes to sell otherwise prices will inflate and buyers will become discouraged!

The bottom line is that we have a good market with improving buyer demand. If you have been waiting to sell your home, now is the time!

Home Inspections Are Recommended

Section 10 of the Buy / Sell contract approved for use by the State of Colorado Real Estate Commission allows home buyers the right to ‘have inspections of the physical condition of the property and inclusions’. It further states that ‘if the physical condition of the property or inclusions in unsatisfactory in buyer’s subjective discretion’, the buyer will have the right to terminate the contract or ask the seller to correct any unsatisfactory physical condition.

This ‘subjective discretion’ puts the buyer in a very powerful position, which is sometimes abused. We regularly hear stories of buyers terminating contacts for very insignificant issues, at times backing out of the contract even though the seller has agreed to fix the problem and there are even some buyers who will continue to look for another property and then use the inspection clause to cancel one contract to buy another. This is why, typically, the date to complete and resolve the inspection is usually very early in the contract process so there are no surprises as the closing date approaches.

The purpose of the inspection clause is to allow the buyer to understand the condition of the home and to provide a platform for negotiating the repair of any health, safety or structural issues. Most contentious issues result from demands to repair clearly visible cosmetic items, like a chipped sink or a cracked tile.

All homebuyers should be encouraged to have a professional property inspection. A professional inspection is not mandatory, but an inspection is the best information and protection available at an affordable cost. The inspector visually inspects and detects adverse conditions and investigates, operates and systematically identifies the major systems and components of the home. The inspector addresses health and safety issues, adverse conditions and required re-sale corrections, making recommendations and counseling on repair options and maintenance. Issues can be anything from minor roof repairs to improper venting causing carbon monoxide emission or a fire hazard. A defective light switch, a window that does not open, plumbing problems and structural failure are all issues that a buyer wants to know about. If the inspector has a concern about any particular element of a home, they may suggest further investigation from a qualified contractor, like a roofing or HVAC contractor. A home inspector can also complete a test of the radon level in a home.

Home inspections are not just for buyers. Home sellers can use a professional inspection to protect themselves from liability of future non-disclosure claims. A pre-listing inspection also provides sellers with appropriate condition information, used to price and prepare their home for sale. When repairs are needed, the seller can shop for bids and choose a contractor without feedback of a potential buyer. The seller can disclose adverse conditions they decide not to repair and the report can help in the marketing to potential buyers, providing up-front information on the condition of the home.

The inspectors report is an important tool in real estate transactions and it is the only document that details the product being bought and sold. Once conditions are defined, it is up to the buyer to decide if the current condition of the home will meet their needs. The buyer decides what is acceptable and what isn’t. Sellers are not required to make corrections although further negotiation of the contract is often the result of facts documented in the inspection.

Home inspections are not intrusive or technically exhaustive and should not be considered a guarantee or warranty but a professional inspector is accountable for accurate condition exposure. The inspector is a third party, independent of the transaction and collects his fee at the time of the inspection, purposely keeping himself out of the transaction. Professional inspectors will not perform or offer to perform any repairs, eliminating potential conflict of interest.

For more information about home inspections you can ask your real estate professional, check the yellow pages or check out many web sites dealing with home inspections. As an example, the web site of the American Society of Home Inspectors at www.ASHI.org has a lot of good information including ‘Frequently asked questions on home inspections’.

Pam & Dave Pettigrew, Certified Residential Specialists, are available to answer your questions on real estate. Write to them at Prudential Rocky Mountain REALTORS, 2700 S. College, Fort Collins, 80525, call them directly at 970-282-9305, email FCRealtor@msn.com or visit their award winning web site at www.FortCollinsRelocation.com for an archive of all their columns

Selling a home is a complex and time-consuming process, involving countless details, exhausting legwork and long hours over many days and months. Still, many home sellers opt to try the “For Sale by Owner” route. To help you determine if you can successfully sell your home yourself, carefully review the following steps.

Thoroughly research information regarding the price and terms of sales in today’s real estate market. Investigate recent sale prices of properties similar to yours in your immediate area or consider hiring an appraiser to determine the value of your property. Check out the other current listings so you know what you are competing against.
Prepare property disclosure forms and beware of regulations regarding disclosure of lead based paint, radon and square footage. In our increasingly litigious society, it is imperative to disclose all known defects to the buyer(s). Be aware of current building codes like the requirement to install CO2 monitors. Have a purchase contract form and know what is required to complete it with dates and buyer and seller obligations to the contract.
Conduct your own mini walk-through inspection or hire an inspection service. Jot down all items that need repair or improvement. Make all necessary repairs and improvements before you begin to advertise the property.
Profile the prospective buyer for your property and establish a marketing budget to enable your message to reach this buyer. Remember, the more interest you create in the property, the more prospective buyers you will attract. Don’t forget out-of-town buyers, who account for the major portion of today’s home purchases.
Determine where and how you will be advertising and promoting the property and which media will best do the job. Call them for rates and deadlines.
Prepare a professional camera ready, attention-getting advertisement that will attract the right buyers to your property. Prepare a ‘flyer’ with features and information about the property. Make sure it has enough information to make a prospective buyer want to see the property. 80% of prospective buyers now use the Internet to research homes. Promote your home on the Internet.
Purchase an eye-catching and weatherproof yard sign; install it at the front of your property together with a brochure box.
Purchase special “open house” signs and use them each time you hold an open house, and be sure to remove them following each open house.
Prepare a ‘home book’ outlining specific features of your home and the corresponding benefits to prospective purchasers. Include information about inclusions, exclusions, utilities, schools, parks, shopping and anything else you think would interest a prospective purchase.
Answer the phone and the knocks on the door and be available at all times to show your property to prospective buyers, while answering questions and offering information. Make sure your home is ready to show at anytime.
Learn how to separate the “lookers” from the qualified buyers. Ask for names and phone numbers, and be sure to follow up with telephone calls. Qualify the buyer to make sure they can afford to purchase your home.
Be prepared to negotiate with the buyer(s) as though you are an impartial third party. Remain calm and refrain from any emotional outburst that might spoil the sale.
When negotiating be prepared for the fact that most buyers will want to share in the savings of not having to pay a real estate broker. Or, if the buyers do have a real estate broker, they will expect you to pay the co-op brokerage fee.
While marketing your current property, locate and negotiate to purchase your next home. Attempt to schedule both transactions to close simultaneously so you and the buyer can move at the same time. If you are not using a real estate agent to assist in the purchase your next home don’t forget the loan application, home inspection, appraisal, final walk-through and any negotiations involved.
Negotiate with the buyer(s) all final terms of the sale including price, financing, contingencies, inspections, date of closing, date of possession and other pertinent considerations. Have an attorney review contracts if appropriate.
If the contract is contingent upon the sale of another home, you will probably want the option to continue to market your home and the ability to bump the first offer if you receive another acceptable offer.
Find and interview and negotiate with a title and escrow company to provide title insurance to the buyer and to provide the closing and escrow services.
The buyers will probably schedule a home inspection. Be prepared to negotiate any items that may require repair or replacement. If anything needs to be fixed, arranged to get it done prior to closing and be prepared to provide receipts.
Be prepared for the appraisal, which will be arranged by the buyer or the buyer’s lender. The appraiser may wish to talk with you and may ask you for the comparables you used to price the property.
Stay in touch with the buyer’s lender regarding the loan approval process. Make sure they are getting all of the information they need including title work.
Plan a final walk-through with the buyer(s) in order to resolve any dispute. Have a witness present.
If everything is on schedule attend the closing for sale and the closing for purchase. Don’t forget the packing, moving and unpacking. If the buyers need to delay the closing or if your next home is not ready, be prepared to negotiate a change in closing dates and times. This may involve penalties, hotel rooms or other conditions.

Obviously this schedule is offered with a bit of ‘tongue in cheek’ and, frankly, many home sellers initially feel very comfortable in the “For Sale By Owner” role. They certainly know more about the property and its features and benefits than anyone else. But it is this emotional involvement and all of the details and the negotiating that take the time and energy and most people may be better suited to partnering with a real estate professional. You should then be assured that you are asking a fair price for your property and that you are doing everything possible to attract all potential buyers to the property. And, the bottom line is that if you do it yourself and only achieve a savings of 50% of the brokerage fee and you have had to invest all of the time and incur all of the expense for marketing and other costs, a more efficient use of your time may be to let a professional manage the entire process and steer it toward a successful conclusion.

Pam & Dave Pettigrew, Certified Residential Specialists, are available to answer your questions on real estate. Write to them at Prudential Rocky Mountain REALTORS, 2700 S. College, Fort Collins, 80525, call them directly at 970-282-9305, email FCRealtor@msn.com or visit their award winning web site at www.FortCollinsRelocation.com for an archive of all their columns

REAL ESTATE SALES, INVENTORY AND HOUSING AFFORDABILITY

So much for the fast start to the year! After recording an 11.3% increase in closed home sales for January we took a step back in February with a 5.5% decrease. We also took a hit with the average selling price which was only $231,861 in February, a decrease of 6.9% and moves the year to date figure to a drop of 4.1%. And in spite of entering the prime time selling season – 50% of the years contracts are written in the four month period from February through May – the inventory of homes for sale remains very low. Last year at this time we had a net of 1,061 homes for sale, at the end of January there were just 855 active listings and this has actually dropped at the end of February to 853 active listings. Plus, of these active listings, 120 are new construction and many of those have not even been started. The only good news is that the number of homes under contract took a big jump from 290 at the end of January to 429 at the end of February so this bodes well for closings in the next couple of months.

We expect a demand for around 1,800 homes over the next six months and with just 853 active listings we have a problem. With an average demand for 300 homes per month the inventory is just a 2.8 months supply. This does not extend to all price ranges; there is about a two month supply of homes priced under $300,000, less than a five month supply for homes priced from $300,000 to $500,000 and around a year’s supply of homes priced above $500,000. A balanced market is considered a six month supply so right now we are short one thousand listings and we need them in the price range below $300,000.

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In the Denver metro area, unsold homes on the market also dropped sharply, down 41.9% from February 2011 to 10,086 homes at the end of February 2012. During the month there were 2,495 closed sales compared to 2,229 last year and the median price dropped 2.7% to $218,855. The annual demand in Denver is in the range of 40,000 homes and with just 10,000 on the market, they have about a three month supply, very similar to our local 2.8 months.

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In addition to the low supply of homes, the other item that we want to keep harping on is housing affordability. According to the latest National Association of Realtors (NAR) report the housing affordability index in January reached its highest level since NAR began tracking it in 1970. The index – which tracks median home price, median family income and the average mortgage rates – reached 206.1 in January. “This is the first time the housing affordability index has broken the 200 mark, meaning the typical family has roughly double the income needed to purchase a median-priced home,” says Moe Veissi, 2012 NAR president. “For buyers who can qualify for a mortgage, now is a very good time to become a home owner.”

The formula uses the current 30-year fixed mortgage rate and allows for a 20% down payment from the current median home price and 25% of gross income devoted to the mortgage interest and principal payment.

Locally, home prices have sometimes been thought of as relatively expensive compared to some other areas of the country but the current housing affordability index for Larimer County stands at 199 which is very close to the national figure.

To see how this is calculated, the current (2010) median income in Larimer County is $74,900 and the current (2011) median home price is $211,500. With a 20% down payment, the mortgage is $169,200 and with a current 3.75% interest rate, the monthly payment is $783. Twenty five percent of the median income is $1,560 per month divided by $783 equals the 199 index.

For comparison purposes, which really shows the affect of the low interest rate, we took a look at ten years ago when the median income was $58,900, the median home price was $184,222 and the interest rate was 8.5%. This resulted in a housing affordability index of 108 so housing is almost twice as affordable today as it was ten years ago.

Obviously there are a lot of potential buyers that don’t have the 20% down payment but there are also mortgage products available with as little as 3.5% down and some like VA and USDA rural home loans offer up to 100% financing.

LET’S HAVE THE GOOD NEWS!

There have been a lot of negatives in the real estate market over the last few years – both in residential and commercial – but it seems now that things are looking up – both locally and nationally – so we thought it might be time to toot the horn with a record of some of the good news that has been reported recently.

On February 23, 2012 the Federal Housing Finance Agency released their report on home prices for the fourth quarter of 2011 and the Fort Collins – Loveland area jumped to #6 in the national rankings with a 1.49% increase compared to a year earlier. And just to put it into perspective, this is out of 306 Metropolitan Statistical Areas in the country with an average drop of 2.43%. In the previous report, the area ranked #58 and while we have not had much of a price increase, other areas are obviously faring worse. Overall, the mountain region is still near the bottom, ranked #8 of nine regions and Colorado has dropped to #32 with a decrease of 2.69% from a year earlier. Just to see how the 1.49% increase stands out, here are the other Colorado areas which all showed a decrease: Boulder -0.75%, Greeley -1.70%, Denver -1.99%, Pueblo -2.61%, Colorado Springs -2.72% and Grand Junction -9.15%

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The National Association of Realtors (NAR) reported that the January Pending Home Sale Index rose 2.0 in January to 97.0 which is 8% higher than a year ago and the highest since April 2010. Lawrence Yun, NAR chief economist, says this is a hopeful indicator going into the spring home-buying season. “Given more favorable housing market conditions, the trend in contract activity implies we are on tract for a more meaningful sales gain this year. With a sustained downward trend in unsold inventory, this would bring about a broad price stabilization or even modest national price growth, of course with local variations.”

On another topic NAR reported that sales of existing homes, which account for most of the housing market, rose 4.3% in January which is a pace of about 4.5 million a year. Sales have now risen 13% over the last six months and are at their highest level in nearly two years. More first time home buyers are making purchases and the supply of homes fell to its lowest point in seven years. “The uptrend in home sales is in line with all of the underlying fundamentals – pent up household formation, record low mortgage interest rates, bargain home prices, sustained job creation and rising rents,” stated Lawrence Yun.

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CBS Money Watch named Fort Collins as among the ten best places to retire in the country. The selection was based on lifestyle perks and noted Fort Collins for its bike paths, hiking, camping, boating and golfing and for its “highly regarded microbreweries”.

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It is not good news for everyone but the Fort Collins residential vacancy rate was 3.4% for the last quarter of 2011, the lowest level in recent memory. This has obviously pushed the average rent to $974 at the end of the year, up 9% from a year ago. This is good news for investors and is also creating a demand for home ownership as the shortage of rental accommodation and high rents are causing tenants to take a look a buying rather than renting.

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Mortgage interest rates remain at all time record lows with thirty year fixed rate mortgages available for less than 4%. Last spring the rate was around 5% and as recently as the fall of 2009 the rates were over 6.5%. This means the monthly payment of principal and interest on a $200,000 mortgage is about $150 lower today than this time last year and $350 less than a mortgage taken out in late 2009. With relatively flat selling prices and low mortgage rates we have record housing affordability.

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There was also some welcome news on the commercial side in the last week with HomeGoods signing a lease to open a 22,500 sq. ft. store in the former Linens ‘N Things building at Harmony and College and Eheart Interior Solutions taking the other 11,500 sq. ft. Kaiser Permanente is leasing 21,000 sq. ft. at 2950 E. Harmony Road in addition to buying the 30,000 sq. ft. former Eheart building at I-25 and Hwy 34 in Loveland and CostPlus World Market is leasing 17,000 sq. ft. in the building vacated by Ultimate Electronics at Front Range Village. There are also many other smaller leases and this activity is cause for optimism on the commercial side which has been especially hard hit over the last few years.

Fort Collins, CO – March 5, 2012

Pam & Dave Pettigrew, award winning real estate professionals with Prudential Rocky Mountain Realtors, have earned the 2011 President’s Circle Award from Prudential Real Estate and Relocation Services, a Prudential Financial Inc. company. The award recognizes the top residential sales professionals who exemplify great achievement in residential sales for the year. The award will be presented at the Prudential Real Estate and Relocation Services’ Sales Convention held in Orlando, March 11 – 13.

In addition to numerous Chairman’s and President’s Circle Awards, they are the only recipients in northern Colorado of the coveted Prudential Legend Award in recognition of their consistent high level of production that places them in the top 1% of the 64,000 Prudential real estate agents in North America.

Pam & Dave are also Prudential Fine Home Marketing Specialists and were awarded this designation after demonstrating professionalism and commitment to representing buyers and seller of Fine Homes which are defined as properties priced in the top 10% of the marketplace. They also hold the Certified Residential Specialist (CRS) Designation awarded by the Residential Sales Council of the Realtors National Marketing Institute, an affiliate of the National Association of Realtors. Less than 2% of all licensed real estate agents have the extensive experience, the unique commitment and the hours of training necessary to hold the coveted CRS designation. In addition Dave is a member of the National Advisory Group for the Council of Residential Specialists.

Pam & Dave would like to thank all of their clients, friends and business associates for their help and support that allows them to experience this level of success. Please call them at (970) 282-9305 or email FCRealtor@msn.com for assistance with all of your real estate needs.

Now that the holidays are over, this is the time of year when many home owners start thinking about selling their home and making a move. But if you want to take full advantage of market activity you need to get started today!  While we do not have specific monthly information for showing activity nor for when homes go under contract, we do have monthly figures for closed sales. Using prior years closed sales data and making the assumption that the average closed sale is under contract for four to six weeks and buyers begin looking at least a month or so prior to writing a contract, we have come up with the following ‘Showing Activity’ graph:

Note how the activity picks up in February and runs through June before slowing down. Almost 50% of the year’s activity occurs during the four months from March to June and nearly two-thirds of the entire years activity occurs in the six-month period starting in February.

If you are thinking about selling your home, a good place to get started is to select a real estate professional to market your property. This person can provide you with a detailed market analysis and help you determine the right asking price for your home. This is a very important step because the wrong asking price can mean the home does not get sold, takes too long to sell or, on the other end of the scale, can cost you money by not getting the full fair market value for your property.

An experienced real estate agent can also help you in determining what repairs and improvements should be made to the property and give you tips on presenting and showing your home in the best possible condition.

The agent will also give you a marketing plan, which will include all of the ways they will promote the property to reach the broadest range of qualified buyers.

If you don’t have a favorite, qualified agent check with family, friends and business associates for references. Look for signs in your neighborhood, attend open houses, check the internet or call several local real estate agencies and ask for a ‘top producer’ or someone who is experienced in your neighborhood or price range. You should normally ask two or three agents to prepare a market analysis and marketing plan and during the presentation you will have an opportunity to interview them to determine their knowledge and qualifications. Ask for references and call them. You want to make sure that you end up with an agent who you have confidence in and also one with whom you are comfortable since you will be probably be spending several months together in the business of selling your home.

If you are planning to sell your home, this is also the time to begin preparing for your move. If you are going to purchase another home in the same area, the agent listing your home may be the best person to work with on another purchase. With the possibility of two transactions, you may be able to secure a better deal from one agent. If you are moving to another town or state, your listing agent may be able to assist you in locating an agent in the new area to assist you. The Internet can also be a valuable tool to find real estate agents and agencies in the new market plus a wealth of other information on the community, schools, recreation, weather and nearly everything else you want to know.

The next step is to implement the repairs and improvements that may be required prior to showing your home. At the very least this will probably involve a de-cluttering which could mean a garage sale, a few trips to the dump and renting a storage locker. Don’t forget the garage, basement, yard, shed and other storage areas. It may also mean some cosmetic improvements like painting, new carpet, perhaps a new light fixture, window coverings, tile, mirror or other decorating tips. There may also be some repairs to be done like checking the HVAC system, fixing that plumbing leak or electrical outlet, perhaps a roof inspection or fence repair.

These initial two steps of selecting a real estate professional to market your property and getting your property ready for the market can obviously take a few weeks. With increased showing activity starting in February and peaking in just 90 to 120 days NOW is the time to get started.

“Dave Pettigrew was selected to participate in an economic round table discussion hosted by the Northern Colorado Business Report. This article appeared in their January 12, 2012 publication”

http://www.ncbr.com/article/20120113/EDITION/120119934